The Verdict: Overall, the GTE Visa Platinum card is a good choice for members of the GTE Credit Union. It has no annual fee and no charges for balance transfers and cash advances. This allows members to potentially save hundreds by transferring balances from high interest cards to their Visa Platinum. The card also earns rewards points on every purchase. Still, the card does have many hidden fees, many for standard card services like card replacement and statement copies.

Overview: The GTE Federal Credit Union offers a single credit card to members in the Florida area. The Visa Platinum card is a good choice for members that want to consolidate high interest debt to a new low APR, or those who want to earn rewards for credit card purchases. This credit card does have a number of advantages, including no annual fee or transaction fees for balance transfers, although there are a few downsides. The APR may be as high as 17.99%, depending on credit, and there are many hidden fees.

How These Cards Work: This credit card may be used worldwide and has a 21 day grace period on purchases. To avoid interest charges, cardholders must pay off purchases in full during this time. The grace period applies only to purchases, as interest will be charged on the transaction date for cash advances and balance transfers. This credit card earns CURewards points for every $1 spent, which may be redeemed through the CURewards system for merchandise, travel, gift cards and more. Cardholders may bank at any GTE Credit Union location or partner branch, of which there are thousands.Travel & Shopping Benefits: The GTE Visa Platinum card has a few notable travel and shopping benefits for cardholders. Customized alerts can be created to track spending trends and cardholders may enjoy the 24-hour travel center to assist with any travel needs. Auto rental discounts and rental insurance is included, along with purchase replacement through Visa. Cardholders may also opt into optional insurance programs like the identity theft insurance, which costs $9.95 each month for credit monitoring and alerts. The credit life and disability insurance is another optional program that will pay off the balance in case of death or the minimum payments in case of disability. This card also earns rewards points for every $1 spent that may be redeemed for gift cards, travel, merchandise and more.

Fees: This Visa Platinum has no annual fee, penalty APR, or fees to apply or maintain account. There are also no transaction fees on balance transfers and cash advances. A 1% fee is charged on foreign transactions that involve a currency conversion, and 0.80% for transactions outside the United States that do not require a currency conversion. The APR on balance transfers, cash advances and purchases is a variable 6.99% to 17.99%, depending on credit worthiness. A minimum interest charge, if incurred, is $0.50. If a payment is more than 10 days late, a late payment fee up to $25 may result. There is no over-the-limit fee, although returned payments and convenience checks will result in a fee up to $25. Check stops cost $29. There are a number of other small fees associated with the account, including a rush PIN fee of $15 (unless completed in a branch), a statement copy fee of $1, a rush card fee of $15, a card replacement fee of $5, payment by processor fee of $5, an immediate payment fee of $3 and a convenience check copy fee of $1.

Pros:

No annual fee or penalty APR

APR as low as 6.99%

No fees for balance transfers and cash advances

Cons:

Must be a member of the GTE Credit Union

Many fees for routine account services

APR as high as 17.99%

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